A-Team project Task 4. Forecasting. Steps in forecasting Determine the use of the forecast Select the items to be forecast Determine the time horizon.

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Presentation transcript:

A-Team project Task 4. Forecasting

Steps in forecasting Determine the use of the forecast Select the items to be forecast Determine the time horizon of the forecast Select the forecasting model(s) Gather the data Make the forecast Validate and implement results

1. USE OF THE FORECAST We use forecasting in order to predict which i going to be the impact of our new good in the global market. Then forecasting can help us to know if this new good is going to be profitable or not.

2. ITEM

3. TIME HORIZON SHORT-TERM: - Marketing. MEDIUM-TERM: - Increase our budget. LONG-TERM: - Using this new good to expand our company in a new work field.

4. FORECASTING MODELS Qualitative Methods: We use our experience to predict the market devolpment. Quantitative Methods: When we have data, we can use mathematical techniques to predict the market development.

Quantitative Forecasting Methods We have done a study of the last 8 years using these two methods: - Moving average. - Exponentical smoothing.

5. DATA YEARGAIN (million €)

6. FORECAST

7. RESULTS

8. CONCLUTIONS The most important conclution is that according to our results our company is not going to increase its benefits, but proably it will do it next years, because despite of forecasting give us lower values than real values, we achieve very high benefits.